With a growth rate of 300%, the monthly transaction volume of Hiver, a Korean male e-commerce company, exceeded 10 billion won

" Hiver ," a men's app operated by e-commerce technology company Brand i , recorded monthly transaction volume of more than 10 billion won in March this year .

Compared to the previous year ( 2019), Hiver has seen a rapid growth of 300% in 2020. Since its launch in November 2018 , the men's app Hiver has accumulated more than 4 million downloads as of last month ( March). Recently, considering the expansion of product categories for the MZ generation male lifestyle and the entry of popular men 's brands , Hiver will continue its steady growth momentum .

According to analysis, Hiver 's growth is entirely due to its provision of the best shopping solutions for male consumers . At Hiver , more than 95 % of customers are male. It offers a wide range of products from fashion to technology, luxury goods, beauty and sports, and its planning and sales are also targeted at male users from head to toe .

Male customers can complete shopping on Hiver for products that suit their tastes, from white T-shirts to luxury goods, daily items such as sneakers and headphones, without having to go to multiple shopping malls to find the products they want.

Since it can be customized for male customers, professional men's brands are also accelerating their entry . Recently, three brands including LF's Hedges, TNGT and Jill Stuart New York men's accessories have entered at the same time, and the trend of brands entering is also continuing.

Seong Jae-min , head of Hiver's marketing department , said: " Hiver provides carefully selected products specifically for male customers, which meets the needs of sellers who want to enter the male market. Based on this, we plan to accelerate development to achieve the goal of annual transaction volume of 300 billion won this year . "

Korean men are gradually becoming the new axis of the fashion, beauty and luxury consumption market . Men are a customer group that has received relatively little attention, but recently, with people's increasing interest in shopping and increasing purchase frequency, men are becoming the most attractive customers in the e-commerce market. Hiver also plans to protect and launch various categories of products in the future to attract men aged 30 to 40 with high purchasing power.

According to Euromonitor , the size of South Korea's men's cosmetics market has expanded from 880 billion won in 2011 to 1.28 trillion won in 2018, and the fashion apparel market has also expanded to 1.310 trillion won ( 2019 ).

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South Korea